据统计从1999年年初开始,在沪深交易所上市的上市公司中已有74家发出警示性公告,公告称这些公司98年度经营出现亏损,亏损数远高于97年度,而且有的公司已是连续第三年经营发生亏损,按规定这些公司已处于摘牌的境地。上市公司是我国经济体制改革的产物,在计划经济时代,我国经济结构比较单纯,公有制一统天下。从1979年开始,我国就已进行国有企业改革,企业改革政策的宗旨是提高企业的积极性为目的的,通过扩大企业的生产经营自主权,增加企业留利,实现政府向企业的分权。而从1994年起,我国的企业改革进入了一个新阶段,其中心任务是运用西方产权理论对企业治理结构和融资结构进行改革,重点在产权制度改革,使国有企业成 According to statistics, from the beginning of 1999, 74 listed companies listed on the Shanghai and Shenzhen Stock Exchanges issued warning statements. The announcement stated that these companies suffered losses in their operations in 1998, the number of losses was much higher than in 1997, and some companies had For the third year in a row, the company has incurred losses. According to regulations, these companies have been delisted. Listed companies are the products of China’s economic restructuring. In the era of planned economy, China’s economic structure is relatively simple and public ownership dominates the world. Since 1979, China has carried out state-owned enterprise reforms. The purpose of the enterprise reform policy is to improve the enthusiasm of the enterprise. It expands the autonomy of production and management of enterprises, increases the profitability of enterprises, and realizes the decentralization of government from enterprises. Since 1994, China’s corporate reform has entered a new phase. Its central task is to use Western property rights theory to reform corporate governance structures and financing structures, with emphasis on the reform of the property rights system, so that state-owned enterprises can become